APA Co. Forecasted to Post Q1 2024 Earnings of $0.02 Per Share (NASDAQ:APA)

APA Co. (NASDAQ:APAFree Report) – Equities researchers at Capital One Financial decreased their Q1 2024 earnings per share (EPS) estimates for shares of APA in a note issued to investors on Wednesday, February 28th. Capital One Financial analyst B. Velie now anticipates that the company will earn $0.02 per share for the quarter, down from their previous estimate of $0.72. The consensus estimate for APA’s current full-year earnings is $4.22 per share. Capital One Financial also issued estimates for APA’s Q2 2024 earnings at $0.59 EPS, Q3 2024 earnings at $0.66 EPS, Q4 2024 earnings at $0.72 EPS, FY2024 earnings at $1.98 EPS and FY2025 earnings at $3.78 EPS.

APA (NASDAQ:APAGet Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported $1.15 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.18). APA had a return on equity of 62.64% and a net margin of 34.95%. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period in the prior year, the business earned $1.48 EPS. The company’s revenue for the quarter was down 12.3% compared to the same quarter last year.

A number of other brokerages have also commented on APA. Johnson Rice lowered APA from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a report on Friday, January 5th. Benchmark reduced their price target on APA from $46.00 to $43.00 and set a “buy” rating for the company in a research report on Monday, November 13th. Raymond James reduced their price target on APA from $44.00 to $43.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Piper Sandler reduced their price target on APA from $42.00 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday, January 24th. Finally, Truist Financial reduced their price target on shares of APA from $64.00 to $59.00 and set a “buy” rating on the stock in a research report on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, APA presently has an average rating of “Hold” and an average price target of $44.17.

Check Out Our Latest Stock Analysis on APA

APA Price Performance

Shares of APA stock opened at $30.03 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.41. The company has a market cap of $9.06 billion, a P/E ratio of 3.24 and a beta of 3.27. APA has a twelve month low of $29.47 and a twelve month high of $46.15. The business has a fifty day simple moving average of $31.91 and a 200 day simple moving average of $36.83.

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Monday, April 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Friday, April 19th. APA’s dividend payout ratio (DPR) is presently 10.78%.

Institutional Investors Weigh In On APA

A number of large investors have recently bought and sold shares of the stock. Money Concepts Capital Corp boosted its holdings in shares of APA by 228.6% during the fourth quarter. Money Concepts Capital Corp now owns 723 shares of the company’s stock worth $34,000 after purchasing an additional 503 shares during the last quarter. Covestor Ltd boosted its holdings in shares of APA by 117.8% during the first quarter. Covestor Ltd now owns 808 shares of the company’s stock worth $33,000 after purchasing an additional 437 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of APA during the third quarter worth $34,000. Rakuten Securities Inc. acquired a new stake in shares of APA during the fourth quarter worth $34,000. Finally, Quent Capital LLC boosted its holdings in shares of APA by 64.0% during the fourth quarter. Quent Capital LLC now owns 961 shares of the company’s stock worth $34,000 after purchasing an additional 375 shares during the last quarter. Institutional investors and hedge funds own 80.48% of the company’s stock.

About APA

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APA Corporation, through its subsidiaries, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, compression, processing, and transmission assets in West Texas, as well as holds ownership in four Permian Basin long-haul pipeline.

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Earnings History and Estimates for APA (NASDAQ:APA)

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